Nestle posts sales of 66.4B Swiss francs, 2% higher

Thursday, 18. October 2018 07:28

The Swiss-based food and drink company Nestle announced its total sales for the nine months of 2018 stood at 66.4 billion Swiss francs ($66.7 billion), 2% more than in the same nine-month period last year. Net acquisitions had a positive impact of 0.1% while foreign exchange reduced sales by 0.9%, the company stated. Nestle's organic growth amounted to 2.8%, reaching 2.9% in the third quarter, of which the increase in prices was only 0.5%, while real internal growth (RIG) came in at 2.3%.

The company based in Vevey, Switzerland noted that the acquisition of the global perpetual license of Starbucks consumer packaged goods and foodservice products was one of the highlights of the quarter, as well as an agreement for the sale of Gerber Life Insurance Co.

"We are encouraged by the progress on our path of accelerated value creation. The nine-month sales show solid growth across most geographies and product categories. We are starting to see improved momentum in North America and in our infant nutrition category globally. Our business in China continued to grow at a mid single-digit pace," said Mark Schneider, Nestle's CEO.

Related Links: Nestlé SA
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Breaking the News / FH